Dimensional Fund Advisors LP Sells 945,283 Shares of Manulife Financial Co. (NYSE:MFC)

Dimensional Fund Advisors LP reduced its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,825,398 shares of the financial services provider's stock after selling 945,283 shares during the quarter. Dimensional Fund Advisors LP owned about 0.40% of Manulife Financial worth $209,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Little House Capital LLC raised its position in shares of Manulife Financial by 1.0% during the 4th quarter. Little House Capital LLC now owns 33,767 shares of the financial services provider's stock valued at $1,037,000 after buying an additional 331 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its position in Manulife Financial by 1.5% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 23,068 shares of the financial services provider's stock valued at $708,000 after purchasing an additional 339 shares in the last quarter. Erste Asset Management GmbH lifted its stake in Manulife Financial by 0.6% during the fourth quarter. Erste Asset Management GmbH now owns 69,300 shares of the financial services provider's stock worth $2,133,000 after purchasing an additional 400 shares during the last quarter. TIAA Trust National Association boosted its holdings in shares of Manulife Financial by 5.0% in the 4th quarter. TIAA Trust National Association now owns 8,419 shares of the financial services provider's stock worth $259,000 after purchasing an additional 404 shares in the last quarter. Finally, Addison Advisors LLC increased its position in shares of Manulife Financial by 45.9% during the 4th quarter. Addison Advisors LLC now owns 1,428 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 449 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Stock Performance

MFC stock traded up $0.41 during trading on Monday, hitting $30.65. 290,046 shares of the company traded hands, compared to its average volume of 2,231,210. The company has a 50-day moving average of $29.72 and a 200-day moving average of $30.42. The firm has a market capitalization of $52.66 billion, a PE ratio of 14.78, a P/E/G ratio of 1.11 and a beta of 0.89. Manulife Financial Co. has a 1 year low of $23.27 and a 1 year high of $33.07.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The firm had revenue of $9.31 billion for the quarter. Sell-side analysts expect that Manulife Financial Co. will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.3094 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Manulife Financial's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 4.04%. Manulife Financial's dividend payout ratio (DPR) is presently 58.45%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MFC. Scotiabank restated an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on shares of Manulife Financial from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $45.50.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.